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Calpers Is Prudent to Be Concerned

The measure would impair the vested rights of its members in “multiple ways.”

The Journal’s characterization of Calpers’ letter to California Assembly member Rob Bonta related to the proposed pension ballot measure is wrong (“Calpers vs. Voters,” Review & Outlook, Aug. 13). Calpers’ analysis is based on well accepted current law and facts, and others have reached similar conclusions. For example, California’s State Teachers’ Retirement System stated in its analysis that the measure would impair the vested rights of its members in “multiple ways,” including allowing a school district to “change all of the terms and conditions of a member’s benefits earned for future work.”

The California Legislative Analyst’s Office (LAO) said in its written analysis regarding death and disability benefits that “the measure does not preclude governmental employers or voters from taking future actions to modify these benefits.” The LAO further states that many of the measure’s provisions could be subject to a variety of legal challenges.